What the 12% VAT Increase Means for Indonesia’s Economy in 2025
The Indonesian government is set to increase the Value-Added Tax (VAT) rate from 11% to 12%, effective January 1, 2025. This policy, mandated by the Harmonization of Tax Regulations Law, aims to boost state revenue, align Indonesia’s VAT rate with international standards, and reduce reliance on foreign debt. Finance Minister Sri Mulyani confirmed
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Indonesia to Liberalize Laws for Enhanced Foreign Investment
President Prabowo Subianto has declared Indonesia’s commitment to fostering greater openness in business relations, particularly with the domestic and international private sectors. This commitment was emphasized during his speech at the Asia-Pacific Economic Cooperation (APEC) Summit held in Peru on November 14-15, 2024. Indonesia Needs Major Investments from Global Investors In a recent statement, Prabowo
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President Upholds Commitment to Renewable Energy at G20 Summit
According to reporting from Antara News, President Prabowo Subianto, at his meeting with UN Secretary-General António Guterres in Rio de Janeiro, Brazil, on Sunday (17/11/24,) outlined Indonesia’s initiatives toward environment-friendly renewable energy development. Prabowo delivered his statement in response to climate change as one of the important topics discussed at the G20 Summit in Rio
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Tourism Ministry and KAI Collaborate to Promote Rail Destinations
Speaking at the 2024 KAI Expo in Jakarta on Saturday (16/11/24,) Dwi Marhen Yono, director of domestic tourism marketing at Indonesia’s Ministry of Tourism, said that in collaboration with PT Kereta Api Indonesia (KAI), the ministry will design tour packages to destinations along railway routes to support the development of regional tourism businesses, according to
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Indonesia, Vietnam Look to Strengthen Strategic Partnership at APEC
According to a press release published on the website of The President of The Republic of Indonesia, President Prabowo Subianto, held a bilateral meeting with the President of the Socialist Republic of Vietnam, Luong Cuong, on the sidelines of the 2024 APEC Summit in Lima, Peru on Friday (15/11/24) focusing on strengthening the strategic partnership
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Apple Urged to Contribute to the Economy
According to reporting from Antara News, Indonesia’s Commission XI of the House of Representatives (DPR) has called on Apple to fulfill its remaining investment commitment and boost its contribution to Indonesia’s economy. Deputy Chairman of Commission XI, Muhammad Hanif Dhakiri, said on Sunday (17/11/24) that Apple must honor the remaining IDR 300 billion of its
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